Company News: MidAmerican to buy Kern River system from Williams

03/18/2002
Analysts see benefits for both firms in an agreement between Berkshire Hathaway Inc. unit MidAmerican Energy Holdings Co., Des Moines, Iowa, and Tulsa-based Williams Cos. Inc. to purchase the latter's Kern River Gas Transmission Co. for $960 million in cash and debt.The firms announced the definitive agreement Mar. 7. Based on terms of the deal, Williams will receive $450 million in cash, and MidAmerican would assume $510 million in debt for the Kern River system.In addition, MidAmerican will continue Kern River's scheduled expansions, Williams said. In August 2001, Williams had filed with the Federal Energy Regulatory Commission to more than double the Kern River system's cap...
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